Titlebook: Regional Economic Development in Russia; Institutions, Regula Niyaz Kamilevich Gabdrakhmanov,Lenar Nailevich Saf Conference proceedings 202

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ghts into the role played by private, as well as public, debThis book explores the role of national fiscal policies in a selected group of Euro-area countries under the European Economic and Monetary Union (EMU). In particular, the authors characterize the response of output to fiscal consolidations

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G. N. Kaigorodova,G. K. Pyrkova,A. A. Mustafina,D. P. Alyakinaghts into the role played by private, as well as public, debThis book explores the role of national fiscal policies in a selected group of Euro-area countries under the European Economic and Monetary Union (EMU). In particular, the authors characterize the response of output to fiscal consolidations

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Liliana R. Ikhsanova,Rezeda R. Shigapova,Joanna Koczar,Zarina I. Agliullina,Madina I. Agliullina,Marment of Mathematics at the ETH in ZUrich. I wish to thank J.H. Dr~ze (CORE) for most help­ ful suggestions, and I am indebted to H. BUhlmann (ETH) for his advice and for encouragement. The comments by M. Granzio1, M. Janssen and by anonymous referees were very useful. However, I assume the responsib

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